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Japan PM Abe to meet with Toyota CEO this week: sources

Mon, Jan 30, 2017 - 11:20 AM

Japanese Prime Minister Shinzo Abe plans to meet the head of Toyota Motor Corp this week, two sources familiar with the matter told Reuters, as Tokyo scrambles to respond to rising US pressure on trade under new president, Donald Trump.

PHOTO: REUTERS

[TOKYO] Japanese Prime Minister Shinzo Abe plans to meet the head of Toyota Motor Corp this week, two sources familiar with the matter told Reuters, as Tokyo scrambles to respond to rising US pressure on trade under new president, Donald Trump.

One of the sources said Mr Abe would meet with Toyota Chief Executive Akio Toyoda on Friday.

Kyodo News agency said they were likely to discuss trade issues involving automobiles, as Mr Abe prepares to meet Mr Trump on Feb 10 for talks at which the US leader is expected to seek quick progress toward a two-way trade deal with Japan.

In a phone call with Mr Abe on Saturday, Mr Trump reiterated his initiative to create jobs in the United States and asked that the Japanese auto industry contribute, the Nikkei business daily reported, quoting unidentified Japanese government officials.

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The two leaders discussed the automotive industry, senior government spokesman Koichi Hagiuda told reporters after the phone call, without giving details. A White House statement said the two "committed to deepen the bilateral trade and investment relationship."

Mr Abe has left open the door to discussing a free trade agreement (FTA) with the United States but some officials worry Japan would have little to gain while coming under intense pressure from Washington. Bilateral talks on specific sectors such as autos, however, are an option, officials have said.

Mr Trump, who last week dropped out of the multilateral Trans-Pacific Partnership pushed by his predecessor Barack Obama and favoured by Mr Abe, has also attacked Japan's auto market as closed in an echo of criticism heard decades ago.

Japanese officials have rejected that criticism, saying Japan does not impose tariffs on US auto imports nor put up discriminatory non-tariff barriers.